Journal Entry Testing

PA GLOBAL – INTRODUCTION TO PANALATYCS – INTRODUCTION TO PANALYTICS & JOURNAL ENTRY TESTING (JET)

“Introduction to PAnalytics & Journal Entry Testing (JET)” is a foundational session designed to equip audit and assurance professionals with both the conceptual understanding of Journal Entry Testing and the practical application using PAnalytics.

Journal Entry Testing is a critical audit procedure, particularly in addressing fraud risks and management override controls, as emphasized under ISA 240 The Auditor’s Responsibilities Relating to Fraud.

PAnalytics provides a structured, automated environment to perform data integrity checks, risk-based journal entry analysis, and anomaly detection, transforming raw financial data into defensible audit insights.

Key Learning Objectives

By the end of this session, participants will be able to:

• Understand the role of Journal Entry Testing in fraud risk assessment (ISA 240)
• Identify key risk indicators within journal entries
• Perform data ingestion and validation procedures
• Execute pre-mapping integrity tests
• Apply risk-based journal entry testing techniques
• Configure testing parameters and thresholds based on audit judgment
• Interpret flagged anomalies and assess audit implications
• Generate audit-ready outputs and documentation

Who Should Attend

This training is designed for:

• Audit and Assurance Professionals
• Audit Seniors and Managers
• Forensic and Risk Specialists
• Internal Audit and Compliance Teams

Course Highlights

Participants will explore the following topics:

• Journal Entry Testing Fundamentals
• Data Ingestion & Validation Framework
• Account Mapping & Data Structuring
• Journal Entry Testing Execution (JET Engine)
• Configuration, Thresholds & Professional Judgment
• Results, Analysis & Audit Documentation
• Best Practices & Audit Value

Prerequisites

• Familiarity with General Ledger structures
• Basic understanding of auditing concepts
• Awareness of audit risk and fraud concepts